Iranian Rial

[screwball]

Iran says purchases from Boeing 'easier'

News ID: 3776173 - Fri 23 September 2016 - 12:43

Economy

TEHRAN, Sep. 23 (MNA) – Deputy Minister of Roads and Urban Development Asghar Fakhriyeh said that talks are underway among Iranian sides, Airbus, and Boeing.

“Negotiations with Airbus are still underway but there are disagreements over some articles that should be concluded,” said Iranian Deputy Minister of Roads and Urban Development Asghar Fakhriyeh on Thursday.

The official recounted that the disputed articles are about the compensation process if Airbus fails to meet its commitment or the sanctions snap back, “Although we believe that the sanctions will never be resumed as the Europe and the US do not share the same stance as before.”

“We demand the same treatment from Airbus and naturally they have their own concerns,” highlighted the Iranian deputy minister, “but we will sign an agreement entailing national interests for us, so the remaining part of talks matters the most.”

He also asserted that the representatives of Boeing have been to Tehran four times so far and they are slated to visit Tehran again in the next week to continue talks on a draft sent formerly by the company.

[Freedomwish]

5 hours ago, gregp said:

Hope to meet in Dubai my friend.

 

5 hours ago, screwball said:

You will....looking forward to it..let's keep the news coming!

Yup, count me in and keep the good news coming!! 

[gregp]

48 minutes ago, Freedomwish said:

 

Yup, count me in and keep the good news coming!! 

We're on!

[pokerplayer]

Chatting with a friend in Dubai today. He does not trust ANY Middle Eastern currency and he lives there. He did did say the Riel will move up in value, that's a given, but he is unsure of by how much. He doe's not see an Increase of a buck, but he did think that .30 to .33 was very possible.

He has no Gov't connections, this is just his personnel opinion.

I know it's not much, but I share what I can like all you other good folks.

pp

[screwball]

52 minutes ago, pokerplayer said:

Chatting with a friend in Dubai today. He does not trust ANY Middle Eastern currency and he lives there. He did did say the Riel will move up in value, that's a given, but he is unsure of by how much. He doe's not see an Increase of a buck, but he did think that .30 to .33 was very possible.

He has no Gov't connections, this is just his personnel opinion.

I know it's not much, but I share what I can like all you other good folks.

pp

**** I am happy with that....might even shout you all...lol..

[screwball]

Trust me if it's a buck I will shout you all.....as long as I cash in first...which. Might be a problem...but then if it's buck you could shout yourself...

Edited September 24, 2016 by screwball

[blueskyline]

Where are they to lift 4 zeros from. That is still the question. 

[pokerplayer]

That's a double edged sword Blue. If 31430.00 IRR= $1 US then we get $3.14 but if they go .0000328167IRR =$1 USD then we get .32817 USD. As posted above my Arab friend thinks the later is more do able, either way Its all good.

Champagne or beer ? Once we get the rate that will tell us which one it is !

Cheers, I hope this helps confuse you more . I typed it and I'm confused as well lol

Then again, it may be neither, Iran may have a plan way outside the box ? We wait and see I guess.

pp

Edited September 24, 2016 by pokerplayer

[screwball]

17 minutes ago, blueskyline said:

Where are they to lift 4 zeros from. That is still the question. 

They have said rate....

[pokerplayer]

I am skeptical as whales would come in and buy bushel baskets full, but f they did then we should be golden.

pp

[pokerplayer]

On par with USD yes, but how are they going to get there ?

pp

[screwball]

I have and always believed it will be slight higher than 1:1 can only hope and dream for 3.14....anything above .10 we are all winners, well depending on how much you have!

Edited September 24, 2016 by screwball

[pokerplayer]

Agreed SB, I plan on cashing out a winner either way. My Dinars are in my will and I suspect the grand kids will get them when I'm long gone LOL, while I hope not it is kind of looking that way.

pp

[screwball]

You and me both...cash out no matter what rate..

[Freedomwish]

1 hour ago, pokerplayer said:

That's a double edged sword Blue. If 31430.00 IRR= $1 US then we get $3.14 but if they go .0000328167IRR =$1 USD then we get .32817 USD. As posted above my Arab friend thinks the later is more do able, either way Its all good.

Champagne or beer ? Once we get the rate that will tell us which one it is !

Cheers, I hope this helps confuse you more . I typed it and I'm confused as well lol

Then again, it may be neither, Iran may have a plan way outside the box ? We wait and see I guess.

pp

Ah what the heck, at the rate possibility of .32?  You already had me at champagne and beer hahaha haha 

ALL OR NOTHING!! BUT DEFINITELY HOPING FOR SOMETHING!! 

[climber7]

2 hours ago, pokerplayer said:

Then again, it may be neither, Iran may have a plan way outside the box ? We wait and see I guess.

 

 

Exactly the question I've been asking ever since I got into this kind of investment with the dinar.

Bring up the subject or the possibility and you're branded a lopster and an outcast. 

I'd just like some intelligent and respectful opinions on what the other possibilities are besides an RV or a lop of either currency. And how those other possibilities would work or look like, please. 

[screwball]

The fact is they have adjust their rate with all the contracts and expenditure otherwise inflation will start to move up again, so that it is single figures now is the time to remove zeros from the exchange rate. Lop does not come into this equation even they have said so in the articles. They have already passed law to remove four zeros, they are certainly not going to put "remove four zeros" and "single forex rate" in the same article or press release. Iran will do what they want when they want, articles have said single forex rate is a must for investment, they have said october for their currency to have "real worth" so let's watch and see what happens in October. 

[screwball]

There's two things we know are stopping foreign investment and large banks from jumping onboard, according to the articles it's the multi tiered exchnage rate and the us....we know they have approved licensing for Boeing Airbus which includes the purchase of us parts.....

[millionaire in training]

5 hours ago, screwball said:

You and me both...cash out no matter what rate..

So you would cash out even if you knew it would float to a higher rate?      Im gonna see what the deal is before cashing out.  Remember  this is their coming out party, they have big plans. They want to play on the world stage and they need to be close to the IQD's level in some way. I think it would be smart to wait and see before running to Dubai and cashing out.  If you guys want to party in Dubai that's a different story ......But......You need to be smart about this . We ain't gonna get a second chance at something like this again.  

[Freedomwish]

22 minutes ago, millionaire in training said:

So you would cash out even if you knew it would float to a higher rate?      Im gonna see what the deal is before cashing out.  Remember  this is their coming out party, they have big plans. They want to play on the world stage and they need to be close to the IQD's level in some way. I think it would be smart to wait and see before running to Dubai and cashing out.  If you guys want to party in Dubai that's a different story ......But......You need to be smart about this . We ain't gonna get a second chance at something like this again.  

Noted indeed - an opportunity like this happens once in a lifetime......we've just been feeling excited and yeah, perhaps getting a bit carried away....we'll see what happens in a couple of weeks.  

Thanks for bringing us back to the ground sister MIT. 

[screwball]

31 minutes ago, millionaire in training said:

So you would cash out even if you knew it would float to a higher rate?      Im gonna see what the deal is before cashing out.  Remember  this is their coming out party, they have big plans. They want to play on the world stage and they need to be close to the IQD's level in some way. I think it would be smart to wait and see before running to Dubai and cashing out.  If you guys want to party in Dubai that's a different story ......But......You need to be smart about this . We ain't gonna get a second chance at something like this again.  

True valid points....let's get through October 1st....

[screwball]

7 minutes ago, Freedomwish said:

Noted indeed - an opportunity like this happens once in a lifetime......we've just been feeling excited and yeah, perhaps getting a bit carried away....we'll see what happens in a couple of weeks.  

Thanks for bringing us back to the ground sister MIT. 

True...

[screwball]

Bulgaria says it has seen positive signs that Iran is determined to press ahead with a plan to establish a multimodal transit link that involves a railroad that passes through its territory toward the heart of Europe.  

Bulgaria’s Presidential Office announced in a statement that the issue had been raised in the meeting between President Rosen Plevneliev and his Iranian counterpart Hassan Rouhani.  The two met in New York on the sidelines of the 71st session of the UN General Assembly. 

“A railroad link with Europe that uses Georgia and Bulgaria as gateways into the continent is on the agenda for Iran,” President Plevneliev's Office said in its statement.

Iran said in May that it is working on a plan to create a combined transit route that would pass through its territory as well as several Central Asian countries before reaching Europe.

Hassan Ashouri, the deputy for development affairs of the Islamic Republic of Iran Railways, has been quoted by the media as saying that Iran’s proposed transit route that will start from the southern port city of Bandar Abbas has been specially designed to dodge Turkey to reach the West.

Ashouri said the route – that will involve rail and road links - will cross the Iranian border into Azerbaijan and thereon to Georgia, adding an agreement between the three countries to the same effect has already been reached.

In Georgia, it will lead to the country’s Batumi and Poti ports from where goods thus transited will be shipped to the ports in Bulgaria and Romania and thereon to the rest of Europe. 

Ashouri further said that a section of the project could extend to Moscow and thereon to Finland, adding that a basic agreement on the same front has already been signed between the railway authorities of Russia and Georgia.    

He also emphasized that the transit route could even take goods from Mumbai for exports to Europe without having to go through Turkey.

[screwball]

1. Economy
2. Business And Markets

Saturday, September 24, 2016

Consent on Planes Will Reopen Major Banking Channels

 

The US green light for Boeing and Airbus sales to Iran has broken a taboo and opens the door to a potential boom in foreign financial dealings with Tehran, experts said.

As well as a long overdue modernization for its aging fleet of passenger planes, Wednesday's announcement of US licenses for Airbus and Boeing serves to reassure other foreign firms and major banks over doing business with the Islamic Republic.

"A taboo has been broken. This deal will ease the fears of major foreign banks and companies which want to work with Iran," an official of an Iranian private bank told AFP, speaking on condition of anonymity.

"It will allow financial channels to be put into place for big foreign banks to work with Iran."

An Iranian financial newspaper, Donya-e-Eqtesad, said experts were now predicting that "major western banks will soon renew ties with Iran's banks".

The approvals from the US Treasury Department allow Airbus and Boeing to proceed with sales worth billions of dollars into a country that had been entirely off-limits prior to Iran's landmark 2015 nuclear deal with world powers.

"We have issued the first two licenses for the export of certain commercial passenger aircraft to Iran under this new policy -- to Boeing and Airbus," a Treasury spokesperson said on Wednesday.

The approval allows Boeing to fulfill a June memorandum of agreement (MOA) with Iran Air that covered the sale of 80 planes, consisting of single-aisle 737 and the long-range 777 aircraft.

The sales will be the US planemaker's first to Tehran since Iran's 1979 Islamic Revolution which was followed a year later by a break in diplomatic ties with Washington.

Iran's deputy foreign minister, Abbas Araghchi, said other licenses would follow "in coming weeks", in comments following a meeting between Iran and major powers in New York on the sidelines of the UN General Assembly.

Before the nuclear deal, which came into effect in January and under which Iran has curbed its atomic program in return for a lifting of international sanctions, an embargo dating from 1995 prevented western manufacturers from selling equipment and spare parts to Iranian companies.

In January, European giant Airbus struck a similar preliminary agreement as its US competitor to sell Iran 118 aircraft, but it also required US approval because some of the planes' components are made in the United States.

 Return to Global Markets

The announcement of the licenses comes after repeated complaints by Iranian leaders that Washington was dragging its feet on the lifting of sanctions under the nuclear deal and putting up financial obstacles for the non-US companies and banks lining up to do business with Tehran.

Washington has in fact stepped up its own set of sanctions against Tehran over alleged human rights abuses.

In New York on Thursday President Hassan Rouhani told the UN General Assembly the US Treasury was "complicating transactions" between Tehran and foreign companies and banks, state news agency IRNA reported.

The Boeing deal is estimated to be worth roughly $25 billion, and the Airbus accord was initially valued at $25 billion, although Iranian officials say it is worth nearer $10 billion.

Neither Airbus nor Boeing has announced a schedule for delivering the planes.

Iran's current commercial aviation fleet, which has a poor air safety record, numbers around 140 planes with an average age of around 20 years, with many in desperate need of replacement.

Iran projects a demand for between 400 and 500 commercial airliners over the next decade.

The well-informed Donya-e-Eqtesad said international banks would play a key role in financing the rare contracts with Boeing and Airbus.

Share This :

Short URL : https://goo.gl/sr6O2B

[screwball]

The US Treasury Department’s recent decision to grant export licenses to Airbus and Boeing to sell commercial airplanes in Iran is a credit positive development for both companies and the broader commercial aerospace supply chain, says Moody’s Investors Service in a new report on Friday.

“The US Treasury announcement lends further support to our positive view of the commercial aerospace market,” says Moody’s Senior Vice President Russell Solomon. “After a short period of pause in 2015-16 we continue to believe the commercial aerospace market will resume its growth in deliveries at higher rates in 2017-18.”

Moody’s estimates that Iran affords large commercial aircraft manufacturers a prospective boost of as much as 3% to future industry demand through the next decade, or about 400-500 jets for Iranian airlines.

The credit rating agency believes the development paves the way for multi-billion dollar deals if current agreements and definitive sales transactions are in fact completed. However, the licenses awarded to Airbus and Boeing governing the prospective sale of new aircraft to Iran do include important restrictions that will likely materially weaken the underlying value of the acquired assets and their ability to be financed.

The approvals from the US Treasury Department on Wednesday allow Airbus and Boeing to proceed with sales worth billions of dollars into a country that had been entirely off-limits prior to Iran’s landmark 2015 nuclear deal with the six world powers.